On january 1 2011 morrow inc purchased a spooler at cost of

Assignment Help Accounting Basics

Reference no: EM13609056

On January 1, 2011, Morrow Inc purchased a spooler at cost of $ 40,000. The equipment is expected to last 8 yrs and have a residual value of $4,000. During its 8 yrs life, the equipment is expected to produce 250,000 units of product. In 2011 and 2012, 42,000 and 76,000 units respectively were produced. Compute depreciation for 2011 and 2012 and the book value assuming unit of production method is used.

This is what I have so far:$40,000-4,000/250,000=.1440
2011 42,000* .1440=6,048
2012 76,000 *.1440=10,944
I am confused on how to calculate the book value for 2011 & 2012.

Reference no: EM13609056

Questions Cloud

Compute the payback period round your answer to 1 decimal : santana rey is considering the purchase of equipment for business solutions that would allow the company to add a new

Your friend is getting ready to start a new business and : your friend is getting ready to start a new business and she wants to know whether she should use the cash or accrual

Draw a schematic of the turbine as a control volume label : steam having pressure 4.0 mpa and temperature of 880 k enters the turbine installed in a power plant at the rate 500

Determine the magnitude and direction of its average : a car is moving with speed 16.6 ms due south at one moment and 29.3 ms due east 9.00 seconds later. determine the

On january 1 2011 morrow inc purchased a spooler at cost of : on january 1 2011 morrow inc purchased a spooler at cost of 40000. the equipment is expected to last 8 yrs and have a

Sketch the cycle indicating the isobars and the isochores : an ideal gas whose adiabatic exponent is equal to gamma undergoes a cycle consisting of two isochoric and two isobaric

A find the magnitude and direction of the electric field at : two long charged thin-walled concentric cylinders have radii of 3.0 and 6.0 cm. the charge per unit length is 6.50 10-6

In 2010 grand falls bankgfb had 4000000 in business loans : in 2010 grand falls bankgfb had 4000000 in business loans at an adverage interest rate of 3.5 percent as well as

A sporting goods store budgeted august purchases of ski : a sporting goods store budgeted august purchases of ski jackets at 14000. the store had ski jackets costing 12000 in

User Account

All Pages